Reading, OH Cost of Living

Reading cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Here we can see a simple outline of the cost of living in Reading, OH. As you can see, with the average cost of living in Reading, OH being 89, that puts it 2% lower than the average of Ohio and 11% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Reading, OH, the price of goods and services are 3% higher than the average of Ohio as well as 2% higher than the nation's average.

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How would you rate the cost of living in Reading?Excellent. Goods, services and housing are all very affordable.Good. Most goods and services are affordable.Poor. Everything is more expensive than I'd like.Awful. You'll have to take out a loan to live here.View resultsWrite a review to give others more information about this area.Is the cost of living increasing or decreasing in Reading?Decreasing rapidly. Costs are dropping at a rapid rate.Decreasing steadily. Costs of goods and services are declining.Increasing steadily. Price are inreasing, but at a reasonable rate.Increasing rapidly. I can barely keep up with the increasing prices.View resultsWrite a review to give others more information about this area.

Did you know?

The cost of living in Reading is 2% lower than the Ohio average.

The cost of living in Reading is 11% lower than the national average.

The cost of housing in Reading is 35% lower than the national average.

Compare Reading, OH Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Reading, OH to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Reading, OH, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Reading, OH salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$60,292

$5,024

$1,407

$1,809

Renters

$27,857

$2,321

$650

$836

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Reading, OH as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Reading, OH homeowners, is $60,292. This would allow for a maximum of $1,407 per month to be spent on housing costs. For renters, the median monthly income is $27,857 which would result in a maximum of $650 to be spent on rental costs.

Ohio Sales Tax

State

General Sales Tax

With Max Surtax

Ohio

5.75%

8%

Ohio Income Tax

State

Income Tax (Low)

Income Tax (High)

Ohio

0.5%

5%

When assessing the complete cost of living in Reading, OH, the Ohio income tax and the Ohio sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Ohio maximum surtax is 8%, and the Ohio sales tax is 5.75%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.5% to 5% in Ohio.

Goods & Services

Item

Reading

National avg.

Difference

Haircut

$16.34

$16.09

1.6%

Beauty Salon

$38.07

$37.33

2.0%

Toothpaste

$2.91

$2.45

18.9%

Shampoo

$0.79

$1.00

21.0%

Movie

$10.85

$10.28

5.6%

Bowling

$4.32

$4.93

12.5%

Groceries

Item

Reading

National avg.

Difference

Ground Beef

$4.08

$3.80

7.2%

Fried Chicken

$1.07

$1.40

23.2%

Milk

$1.31

$2.01

34.8%

Potatoes

$2.32

$3.01

22.8%

Pizza

$8.62

$9.89

12.8%

Beer

$8.35

$8.90

6.1%

Health Care

Item

Reading

National avg.

Difference

Optometrist

$95.13

$102.16

6.9%

Doctor

$100.96

$108.36

6.8%

Dentist

$95.10

$92.53

2.8%

Ibuprofen

$8.30

$9.28

10.6%

Lipitor

$439.61

$425.82

3.2%

Housing

Item

Reading

National avg.

Difference

Home Price

$116,800.00

$184,700.00

36.8%

Avg. Mortgage Payment

$879.44

$1,202.44

26.9%

Apartment Rent

$657.00

$949.00

30.8%

Transportation

Item

Reading

National avg.

Difference

Gasoline

$2.30

$2.24

2.5%

Tire Balancing

$45.08

$46.29

2.6%

Utilities

Item

Reading

National avg.

Difference

All Electricity

$162.22

$165.96

2.3%

Phone

$26.78

$28.68

6.6%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.